FAQs on Letter of Credit

Letter of Credit is a document that serves as a guarantee to the seller on the occasion of the buyer’s failure to make a payment. It is mostly used in international trade, where parties being unaware of each other personally involve a third party, that is, the bank to issue a Letter of Credit that gives a guarantee to the seller concerning his payment. Read More

RELAXATION ON LEVY OF ADDITIONAL FEES IN FILING OF E-FORMS FOR THE FINANCIAL YEAR ENDED ON 31.03.2021.

The MCA has issued a circular on 29th October 2021, which provide for the relaxation of additional fees on annual filing forms. Read More

LLP Form 8 – Date Extended

The legislation aims to bring the Act in consonance with the growing trend in business. The Act made the appointment of women directors mandatory in the Board of Directors. Read More

Women as Directors in the Indian Corporate Structure

The legislation aims to bring the Act in consonance with the growing trend in business. The Act made the appointment of women directors mandatory in the Board of Directors, Read More

Extension of Time for Holding AGM

The Ministry of Corporate Affairs (MCA) has extended the due date for holding AGM for FY 2020-2021 by two months. Read More

Annual Compliance for LLP – Complete Details

Every LLP would be required to file annual return in Form 11 with ROC within, Read More

Types of Directors

A company is a separate legal entity. It is a separate person in the eyes of a Law but it doesn’t have any physical existence. It is managed by individuals called Directors. Read More

LLP Incorporation Process

LLP is a partnership form where partners of LLP have limited Liability. LLP is a separate legal entity. It have less compliance than a company. Read More

Vacation of Office of Director – Complete Guide

Directors are the person appointed to look after the company’s affairs. They are appointed as per the provisions of the companies act, 2013. Read More

Disqualifications of Directors

If a director is disqualified then he/she will not be eligible for appointment as director in a company. Read More

Tata vs. Mistry: Case Before Supreme Court

Tata is one of the largest conglomerate in India, being established in 1968 and with its business expanded in almost every sector from Hotel Chains to Automobiles. Read More

Lifting of corporate veil: To make shareholders personally liable

The concept of corporate veil was introduced to protect the shareholders from being personally liable for the debts or obligations of a company. Read More

Voluntary Liquidation Process of Corporate Persons

Voluntary Liquidation of Corporate Persons have been defined under Section 59 of the Insolvency and Bankruptcy Code, 2016. Read More

Your Current Account will be freezed – When and Why?

No bank shall open current accounts for customers who have availed credit facilities in the form of cash credit (CC)/ overdraft (OD). Read More

Having Similar Company Name – Company Name will be changed Automatically?

If a company fails to change its name in accordance with the direction issued under section 16(1) of the Companies Act within a period of three months, Read More

Independent Director-Role, Independency and Present Scenario

It is assumed that the ID’s are independent of any kind of interest. But in reality, the ID’s are not that independent as they are thought to be. Read More

Related Party Transactions

A Related party transaction is a transaction of an entity with its related party. A related party can be the director, manager etc. of the company. Read More

Extension of Time under Company Law

Clarification on passing of ordinary and special resolutions under the Companies Act 2013, Read More

FAQs on Debenture Trustee – By SEBI

A debenture trustee means a trustee of a trust deed for securing any issue of debentures of a body corporate, Read More

Liabilities of Directors

It was held by the Hon’ble Supreme part that the director is personally liable on company contract when the director has himself accepted, Read More

FAQs on Reduction of Share capital – Complete Prospective

If there is different amount are paid up on shares of the same class, the reduction can be affected as per the amount so paid up. Read More

Personal Guarantee of Director, Promoter, Chairman – Covered under Insolvency Proceedings under Insolvency Proceeding Code ?

LALIT KUMAR JAIN V. UNION OF INDIA The normal banking practice involves application procedure alongwith with a guarantor for granting. Read More

FAQs on Director Identification number ( Complete Prospective)

Q 1. What do u mean by DIN in company law? As per section 153 of the companies act, Every Individual intending to be appointed as Read More

FAQs on Mutual Fund – Complete Prospective

Q 1. Concept of Mutual Fund Mutual Fund is vehicle to mobilize money from investors, to invest in different markets and securities. Read More

Compounding Under Company Law

Compounding Compounding of an offence is a settlement instrument, by which, the litigation be avoid by giving the opportunity to the Read More

FAQs on Virtual Meeting – Complete Prospective

Q 1. Explain the concept of Virtual meeting? Virtual meeting is a meeting that does not involve a physical gathering, but which take place in an electronic form, Read More

FAQs on Creation and Modification of Charges – Complete Prospective

Q 1. What is a Charge? A charge is security given for securing loss or Debenture by way of mortgage on the assets of the company. Read More

FAQs on Sweat Equity Shares– Complete Prospective

Q 1. Explain the concept of Sweat Equity shares:- Sweat equity shares is as valuable as Cash equity. As per section 2(88) of the companies act, 2013 ‘Sweat Equity shares’ Read More

FAQs Chairman of Company – Complete Prospective

Q 1. What is the Importance of a Chairman and what’s his role towards the company? Read More

Corporate Social Responsibility

Applicability, Taxation and, other related terms

Q 1. What is Corporate Social Responsibility? Read More

Company law